Keysight Technologies (KEYS.N) reported better-than-expected fourth-quarter profits on Monday, November 20. The company provides electronic design and test products that are used in aerospace and defense industries. Their product offerings include oscilloscopes, network emulators, and software, among others.

Keysight saw a 4% increase in revenue from segments such as aerospace, defense, and government. This was driven by investments in defense technology modernization, electromagnetic spectrum operations, radar, space, and satellite. On an adjusted basis, the company earned $1.99 per share in the quarter through October, compared with an average analysts’ estimate of $1.87 per share.

Despite the positive earnings report, Keysight mentioned ongoing challenges in various sectors caused by supply chain constraints and elevated raw material costs. The company also provided a forecast for their first-quarter profit in 2024 that was slightly lower than LSEG estimates’ expectations.

After the earnings report was released, shares of the company were up 2.4% at $138.20. This report was covered by Priyamvada C and Nathan Gomes in Bengaluru and edited by Shilpi Majumdar.

In summary, Keysight Technologies reported better-than-expected fourth-quarter profits on Monday due to a 4% increase in revenue from segments such as aerospace, defense